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Forum Spot Forex vs. Binary Options – Is it worth the switch? Reply To: Spot Forex vs. Binary Options – Is it worth the switch?

Yaeko Joyce

LEVEL 2 : NOVICE

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#1790

Yaeko1966

September 1, 2015 at 11:56 am

Hello Micaela

I will try to respond based on experience to your question about the comparison of binaries to forex. I would love to give you a yes or no answer but the truth is the two are completely different in nature therefore it is hard to compare but I will do my best here. Binary options trading is much more risky than forex and still does require hefty chart work to be successful. The payouts seem glorifying but do not let that fool you, after calculating the amount of win percentage you need to be successful in this market you quickly realize that it is not as good as it seems.

Am I saying binary options are a waste of time? Of course not you can make some very good money trading binary options but to say they are simpler easier and/or a walk in the park when compared to forex I would say NO. This assumption is why a lot of newbies lose money when getting into binary options thinking with that mindset. If you are going to get into binary options treat it just like you would treat your forex trades and manage your risk, do your due diligence, check news. One important factor is binary options are much quicker than forex and have fixed payouts so it’s either you win or lose there is no going back or hedging positions. The flexibility in binary Options is much less than forex but also the complexity seems to be less with binary options on the surface. However the longer you trade binary options the more you will see it is in fact probably just as complicated if not more complex than forex trading.

Hope this answered your question, cheers.